17748 Springmill Rd - Residential LAND FOR SALE
Westfield, IN 46074 | 581,090 SF
317-255-3900
17748 Springmill Rd
Westfield, IN 46074
HIGHLIGHTS
- 120 Total Units - 80 Assisted Living, 40 Memory Care. (48 Independent Living Cottages will be in separate, second phase.)
- Focusing on the Middle-Income Senior Population (60% of all Seniors)
- Site Under Contract and Construction Set to Start in Q2 of 2026, 15 Month Construction Period
- 5 to 7-Year Hold Period with Flexible Takeout for Investors
- Cap Rate 8% | Target LP IRR: 22.5% | 1.85x Equity Multiple
- Opening Target: Mid-2027 (June 2027)
OVERVIEW
Bradley Company is pleased to offer this JV Opportunity on this To-Be-Built Senior Housing Property in Westfield, (Suburban Indianapolis), IN. This opportunity allows an investor to join with a very qualified, experienced and seasoned Sponsor group in filling a need in the middle-income Senior Living market. Phase I includes 120 Units with Assisted Living and Memory Care. Phase II will include 48 Cottages of 55+ Active Adult Apartments.
FOR SALE DETAILS
PRICE
Request Info for Price
# OF LOTS
-
LAND DETAILS
PROPERTY NAME
17748 Spring Mill Road
PROPERTY TYPE
Land
PROPERTY SUBTYPE
Residential
LAND PROPOSED USE
Apartment Units - Senior
LAND ACRES
13.34 AC
LAND SF
581,090 SF
OFFSITE IMPROVEMENTS
Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation
ZONING
Senior Housing
APN/PARCEL ID
08-05-34-00-00-017.000
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317-255-3900
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317-255-3900
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